Southside Bancshares, Inc. (NYSE:SBSI) Raises Dividend to $0.37 Per Share

Southside Bancshares, Inc. (NYSE:SBSI) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Thursday, August 20th will be given a dividend of 0.37 per share on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, August 20th. This is a 2.8% increase from Southside Bancshares’s previous quarterly dividend of $0.36.

Southside Bancshares has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 30 years.

Southside Bancshares Stock Down 0.5%

Shares of NYSE:SBSI opened at $32.54 on Friday. Southside Bancshares has a 1 year low of $26.32 and a 1 year high of $36.20. The business has a fifty day moving average price of $33.84 and a two-hundred day moving average price of $32.78. The company has a market capitalization of $969.90 million, a PE ratio of 12.81 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.74 and a quick ratio of 0.74.

Southside Bancshares (NYSE:SBSI) last released its quarterly earnings results on Friday, July 24th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. Southside Bancshares had a net margin of 16.70% and a return on equity of 11.16%. The firm had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $75.00 million. Analysts forecast that Southside Bancshares will post 3.24 earnings per share for the current year.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.